Category: Business

Small and micro businesses need the same level of protection as consumers when buying utilities, according to the Federation of Small Businesses (FSB). The FSB argues that many small businesses are disadvantaged when choosing energy or water providers as they lack the resources and negotiating power of larger firms. The FSB is asking the Government … Continued

This government programme helps small businesses get expert advice on: finance and cash flow recruiting and developing staff improving leadership and management skills marketing, attracting and keeping customers making the most of digital technology Some businesses will be randomly chosen to get a voucher for up to £2,000 to help finance specialist business support. You’ll have to … Continued

It has been confirmed that the implementation of the LLP/partnership tax changes will take effect from 6 April 2014 and will counter two main areas: The disguising of employment status in relation to salaried members of LLPs; and Tax-motivated profit/loss allocations between partners to secure a tax advantage. If an individual is caught by the … Continued

An immediate tangible benefit is the extension to the temporary £250,000 Annual Investment Allowance (AIA) which was die to expire at the end of this year. The increased allowance has been extended to 31 December 2015, and, has also been increased to £500,000, from 1 April 2014. This will benefit retailer planning shop refurbishments or … Continued

Companies that are Small and Medium sized Enterprises (SMEs) carrying out qualifying Research and Development can currently claim a corporation tax deduction of 225% of their qualifying spend. This means that £100,000 spend would result in a £225,000 reduction in taxable profits, potentially saving £45,000 corporation tax (at 20%). However, if the company is loss … Continued

The Annual Investment Allowance has been doubled to encourage further investment in plant and equipment, providing accelerated tax relief on spending up to £500,000. The increased limit will take effect from 1 April 2014 for corporation tax and 6 April 2014 for income tax, providing 100% tax relief for spending on plant and machinery up … Continued

Online retailers have reported their strongest January sales of non-food products since 2009, according to the British Retail Consortium (BRC). Online sales of non-food products increased by 19.2 per cent in January 2014, compared with January 2013. The BRC research found: Online purchases accounted for 17.4 per cent of total non-food sales in January 2014 … Continued

Business groups have called for reform of the Prompt Payment Code (PPC) after data showed that more than half of Federation of Small Businesses (FSB) members were not paid by the agreed date. The PPC is a Government-backed scheme to encourage businesses to pay their suppliers on time and within clearly defined terms. The FSB … Continued

A growing shortage of skills “may constrain economic growth”, research from the UK Commission for Employment and Skills (UKCES) has suggested. The UKCES 2013 Employer Skills Survey (ESS) found that skills-shortage vacancies increased from 91,400 in 2011 to 146,000 in 2013, rising at a faster rate than the increase in job vacancies. The ESS findings … Continued

Click here for our full Economic Update February 2014 with commentary on GDP, employment, inflation, trade and mortgages, plus planning tips and ideas for 2014/15.